PayMaya is no more. The e-wallet has rebranded into Maya, and it wants to be your all-in-one app for your finances. The company has started rolling out the revamped app this week. Maya integrates all things money into the app, whether your savings, crypto wallet, credit card, or e-wallet.
These are the four new features you need to know about this redesigned app:
Now is probably the best time to try out Maya’s new Savings feature. It’s a high-yield savings account with a 6% introductory interest rate, which it boasts is the highest offered by a local bank today. This initial offer will be available until August 31, 2022, so the earlier you start saving, the better. After that date, the interest rate will be lowered to around 2-3%.
If you’re an eligible PayMaya user, you can transfer their money from the e-wallet to Maya Savings with just a couple of clicks to earn interest on your balance. You are eligible if you have an upgraded Maya account. You don’t need a maintaining balance for your account.
Maya plans to introduce a Goals feature when the introductory rate ends. The Goals feature is probably the one I’m most intrigued about. You can set targets like saving for a trip, your smartphone upgrade, or more. The company hasn’t revealed the full details yet, but it’s a feature you can share with others, meaning you and your family or friends can help save up for your goal. And this feature will maintain that high-interest rate (around 5%) because Maya wants to encourage you to get into the habit of saving.
Maya also gets a virtual credit line that lets you borrow up to PHP 15,000 (around USD 287) within the app to pay bills, groceries, etc. According to the company, you can access your credit line as quickly as 60 seconds for eligible users.
We’ve already shared this on our socials, but if you want to try your luck with crypto. Maya can help you on that journey. You can buy, hold, and sell popular coins like Bitcoin, Ethereum, Solana, Tether, and more for as low as PHP 1 within the Maya app.
Of course, the e-wallet feature of PayMaya comes to the Maya app. The company reminds us that you can avail free cash-ins at over 90,000 touchpoints nationwide.
Other features to look forward to are the introduction of dark mode and the option to use a customized username to make it easier to send and receive money.
If you want a chance to become a “Maya bitcoin millionaire” and help develop the app, Maya is hosting its Early Access Challenge. If you already use the app, tap on the More button to head into Missions. You’ll get to join the Maya Early Access Challenge from there and do tasks like open your Savings account, refer friends to the app using your code, pay bills, and even share feedback on the app.
Depending on your score, you’ll be assigned a “Maya level” (Maya Explorer, Enthusiast, or Master). The higher your score is, the more chances you have of winning Bitcoin from a pool of PHP 3,000,000 (~USD 57,306). The top 15% Explorer level users get a chance to win PHP 300,000 (~USD 5,730) worth of Bitcoin. In comparison, the top 10% of Enthusiast level users have an opportunity to win PHP 600,000 (~USD 11,461) worth of Bitcoin. Then the top 5% of the Master’s level get a chance to take home PHP 1,000,000 (~USD 19,102) worth of Bitcoin.
Aside from this, all participants with a Maya Savings account get another opportunity to win PHP 1,000,000 worth of Bitcoin. You can get your score tally through SMS or on Maya’s homepage.
If you have questions, let us know on social media!